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What is Motor Trade Insurance? – Part 2

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Part 2 in our What is Motor Trade Insurance? series looks at Third Party, Fire and Theft policies. In the last post we looked at Third Party Only Motor Trade motor trade insurance theft policyInsurance and what is covered with TPO policies. With Third Party, Fire and Theft motor trade cover, you are covered for everything in a Third Party Only Motor Trade Policy, including the following:

  • fire damage to any vehicles connected to the motor trader.
  • cover for theft of vehicles connected to the motor trader.

In Part 3 we will look into Comprehensive cover in Motor Trade Insurance.

What is Motor Trade Insurance? Part 1 – Third Party Only

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A Motor Trader is someone that makes a living buying and selling cars. A Motor Trade Insurance Policy is designed to cover the person in the event of a fire, theft or accidental damages.

When a motor trader applies for a motor trade insurance quote, it is important they get a policy that meets their requirements and fits within their budget. When applying for a motor trade insurance policy you can chose from 3 different levels of cover.

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TPO – Third Party Only (also known as Third Party Road Risks Policy)

TPO policies are required by law if the motor trader wishes to

  • drive their own or customers cars on the public highway
  • repairs the vehicles
  • buy and sells cars for a profit
  • works as a fitter or valeter or as a mobile tuner
  • runs a MOT station/garage

Third Party Only motor trade policies only cover the third party in the event of an accident, property damage or death caused by any of the vehicles connected to the trader.

Coming up in Part 2 – Third Party, Fire and Theft Policies in the Motor Trade.

 

truck drivers – know your CPC requirements!

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No we are not talking about Cost Per Click requirements in regards to Google, we are in fact talking about the Certificate of Professional Competence for Truck Drivers. The government introduced this requirement from September 2009 but it seems that its possible there are still thousands of lorry drivers still out there which have not taken the level of training required.

There are situations where a CPC is not required for example, if you are driving a vehicle for personal use rather than non-commercial carriage of passenders or goods or if the truck/lorry is being road tested after a repair. There are other instances where a CPC is not required but in most cases of commercial use of a LGV (large goods vehicle), the driver will require a CPC.

In order to keep the CPC, the driver must have 35 hours of training under their belt every 5 years. A driver could satisfy this requirement by undertaking 7 hours of training each year. If you are a truck driver and need truck insurance or hgv insurance then you can get a HGV Insurance Quote from our website. The process of getting a quote is easy, just fill out our online form and one of our HGV Specialists will contact you with a quotation. If you prefer to speak directly to our team then you can contact Broadsure Direct on 0845 658 6587.

Toyota recalling nearly 700,000 cars?!

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Toyota have announced they are going to recall around 690,000 cars that were made in China. The reason for this is because the electric window switches are said to be faulty. 4 models are affected in the recall, and fortunately there have been no accidents relating to the problems.

Its not only Toyota that are now having to recall cars. Not long ago Honda in America had to recall nearly 500,000 cars because of an airbag problem. A far bigger issue in my mind!

If you have a Toyota or Honda and need insurance, visit www.broadsuredirect.com .